Bo and Co order aren’t working. I place BO order at limit of Rs.224, but the system bought the stock at market price and also I had placed SL at 223, but system placed it 198 !!! Very dangerous. Please help
What was LTP when you placed order?
Even i encountered the same problem today… had to take losses…
Watch these videos.
Clearly, this is the first time you are using the bracket order option on the Zerodha platform. if you are using kite.zerodha.com then you will be able to use BO with the initial order as a limit order. If you are using the new version of BO then you have the option to enter a BO position at a Buy above a certain price or to sell below a certain level using the SL option available on kite3.zerodha.com.
Essentially, you can use the Limit order alone or as part of BO to enter into a long(buy) position below the current market price or to create short(sell) position above the current market price. To do the thing you wanted to do today, you should have entered the position using the SL option( to buy above CMP or sell below CMP)
Also when placing the BO you will have to place the absolute values only, that is if you want to buy something at 200 and target at 205, stop loss at 198(then you should place the Target at 5(205-200) and trigger/stop loss ar 2(200-198). Now if you do not put the absolute values then it takes the Upper circuit limit/ lower circuit as fixed by the exchange.
भावा, शेयर मार्केट म्हणजे आकडा, मटका नैय्या रे!!!
त्याला अभ्यास खूप करावा लागतो.
तुला साध्या ऑर्डर टाईप विषयी घंटा काही माहित नाहीये. उगाच पैसे डूबवू नकोस. पहिले अभ्यास कर, समजून घे.
It you want your order to remain pending until certain value is reached then While placing buy limit order limit prices must be less than LTP. While selling limit price must be greater than LTP.
Limit Buy above LTP is just like market order.
Thank you for A2A.
It helped me as well… I still smell a rat, though, as I have seen BO’s failing during desperate times.
I’m using Kite3.zerodha.com at the moment.
Let me put a hypothetical situation so i can understand where i’m going wrong.
I use SL BO orders, say for instance:
Entry Price : ₹200
Trigger price : ₹199
Stoploss : ₹5
Target : ₹10
What I have noticed is that my order gets executed at the trigger price itself i/o a price above the trigger price. This even when i’ve traded in highly liquid stocks like SBIN where the ticks are 0.05 paise.
Can you please tell me where i’m wrong how i should proceed?
Dear @maddy_Des can you please refer your views subjecting to above scenario for me to understand better?
When the current market price of the stock is at 198 or anything below the trigger price, it will wait till the price goes up beyond the trigger price of the first leg to get executed. So assume you placed this order at 10 am when the price was at 198 then the price went up, the initialleg of the buy order is pending till the price goes above trigger, once above, it will buy at the best available price between the trigger and price.
The thing that you got wrong is how the first leg of this BO works. If you choose limit as the option then BO is combination of three orders, if your idea is to go long, then first will be to buy lower(using the limit option) and sell at Target of 10₹ higher and set stop-loss at ₹5 below. And the other way in case of sell.
If you are using the SL option in BO, you can use it to complete the first buy order if market goes above the CMP or to sell if it breaches support or lower.
Thanks for your clarification…
Assuming, i intend to go long @₹200 but the LTP/CMP is trading at ₹202 I can use limit order with limit price ₹200 (here the order will be pending until the CMP reaches ₹200), SL ₹5 and target ₹10. Do correct me if am wrong! Another way is what is usually used when anyone wants to buy below a certain price (say below limit price of ₹200 and not above it).
On the other hand, if the LTP is ₹198 and I intend to go long at ₹200 then I can use SL option with trigger at ₹199, entry price ₹200, SL 5, Target 10.
Just tell me that is it possible to place BO order above CMP or not ??? ( in case of buying). Example: CMP 200 and I want to place Buy Limit order at 205 ; SL-M at 203 ; Target at 210.
You got the first part correct
The second part is wrong,
So if you wish to buy above ₹200 when the price is at 198, then your trigger price has to be ₹200 and price slightly higher than that(say ₹200.50), so the order stays pending till the price goes to ₹200 your trigger, once this trigger is breached if there are sellers between ₹200 and ₹200.50 your order will get executed, mostly closer to ₹200.
Hope this helps,
Yes you can, choose the SL option while buying and place the trigger price at ₹205, price slightly higher than this,Target as 5₹ and stop-loss at ₹2.
LOL right… @Vikrant_Bhosale nothing wrong with the system. It’s entirely your fault. I’d say first learn about order types, what exactly each one of them is used for, then learn some technical analysis and after that start trading. If you skip the basic steps, you are only gonna make losses. Good luck!
@lindo … Done! Thank you so much… So the trigger price is basically nothing but my targeted entry price and that’s where i’ve been going wrong.
Then what is Price ??